The word poverty continues to be untouchable and taboo in USA – politicians, media personnel and the public in general have skirted the issue. But reality is that there is crisis related to poverty raging across the country.
This silence is most probably because the poor do not have the political clout to appoint representatives [...]
Washington earmarked $550 million as housing help for the military staff – it being included in the stimulus funds.
Lt. Mark Michel of the Navy is one of them who should have benefited. He had to give up his house in South Florida in the wake of the collapsing real estate market when he was transferred [...]
It seems that American Canyon, a city in California State, is not immune to the lingering recession and will have to trim its expenses. It is not yet clear where the slashing will be done said Rich Ramirez, the manager of the city.
Foreclosures have greatly harmed American Canyon bringing down property prices. This has led [...]
30 Oct
Posted by Julia Redstone as Foreclosure
The foreclosure problem was tackled with the initiation of the stimulus package. It helped the teachers and the workers. The biggest winners are expected to be the school teachers of public schools when the different states will disclose how many jobs were made or saved following the debut of Obama’s stimulus measure involving $787 billion.
The [...]
The Consumer Credit Counseling Services of Greater Atlanta received $3.5 million as grant to step up its effort in foreclosure prevention counseling.
The money provides a much needed support to the house owners in Atlanta, Miami, Fort Lauderdale, New York, New Jersey, Los Angeles, Washington D.C. and many other places in the throes of foreclosure.
CCCS [...]
28 Oct
Posted by Julia Redstone as Finance
Recently the administrators of Social Security announced that the beneficiaries of social security would not get any increase in calculation for cost of living. Those who have been retirees for the first time have not had any increase sine 1975. The current financial crisis with raging unemployment and foreclosures has made their position more vulnerable.
Calculation [...]
27 Oct
Posted by Julia Redstone as Foreclosures
Staggering numbers of foreclosures and layoffs have made company executives the target of hate and this has led to escalation of their security expenses.
Threats of the executives and spending for their protection are nothing something new to the industry and the economy. In bad economic weather this intensifies. Associated Press has reported that Kurt Hellstroem [...]
26 Oct
Posted by Julia Redstone as Finance
By posting a loss in the third quarter of 2009 the condition of the bank became all too apparent. It is weighed down by defaults in credit cards and mortgage loans. During the last six months the bank had showed the biggest gains.
In the third quarter it reported a loss of $1 billion. The [...]
South Florida’s skyline had changed in the last few years. Many residential buildings had come up in the area. There are not only apartments but condominiums for the well-heeled too.
The housing bubble has burst. Now the real estate developers are wondering what would happen to the buildings – foreclosure is one of the answers. Home [...]
22 Oct
Posted by Julia Redstone as Foreclosure
The unemployment rate in California is alarming – hurting the finances of the individual and the state. It has reached a record since the last seven decades making a mockery of all talks of economic recovery of the nation. Millions of Americans are without work. The unemployment graph has reached its highest point since 1940. [...]
